Forms of Business Ownership 商务英语论文

Forms of Business Ownership
I’m really interested in Business English. I think knowing something about Business English is necessary for me, and I believe what I have learned in this course will help me a lot in the future. These are the reasons why I chose to learn Business English.
After half a semester, I have learned much knowledge about business English, for example, forms of business ownership, bank, International Trade, price terms, business negotiation, etc. On the other hand, I learned some new ways of learning English; I learned how to use the Internet to broaden my horizons; and my listening skill also have been improved because the teacher always speak English in class. I’m major in finance, I think there are some relationships between finance and business English, knowing something about business English can help me to learn my major better.
Now let’s talk about forms of business ownership—the most interesting part I have learned in this course.
One of the first decisions that you will have to make as a business owner is how the company should be structured. This decision will have long-term implications. So it is very important to know something about the forms of business ownership.
One of the normal forms of business ownership is sole proprietorship. A sole proprietorship is a form of business that is owned by only one person. Sole proprietorships are typically small businesses. Forming a proprietorship is easy and inexpensive. The proprietor has direct control over how the business is run and can make decisions on the spot without the approval of anyone else. This control allows the owner to respond quickly to competitive business conditions or to the changes in the economy. All profits from a sole proprietorship belong to the owner. Profits do not have to be shared with anyone. But a sole proprietorship takes unlimited liability, which means if the business owes money, the business owner is responsible for the debts, and the owner may have to use personal assets to pay.
Another form of business ownership is partnership. A partnership is a business with two or more owners and is slightly more complex than a proprietorship. There are three basic types of partnership: general partnership, limited partnership, and joint venture. A general partnership involves a complete sharing in the management of a business. In a general partnership, each partner has unlimited liability for the debts of the business. A limited partnership has at least one general partner, who assumes unlimited liability, and at least one limited partner whose ability is limited to his or her investment in the business. Limited partners are barred from participating in the management of the business but share in the profits in accordance with the terms of the partnership agreement. A joint venture is a partnership established for a specific project or for a limited time. A partnership may have more money and credit to pay the rent, utilities, and other bills incurred by a business. This is one advantage of partnerships. Of course, partnerships also have many disadvantages, like the sole proprietorship, general partnerships also have to take unlimited liability. There might be many disagreement among the partners, and the may have problems when devise the profits.
The third form of business ownership is corporation. A corporation is a separate legal entity of body, created under the authority of the laws of a state. As a legal entity, a corporation has many of the rights, duties, and powers of a person. A corporation takes limited liability and has greater
capital base. There are skilled management team and many professional managers in a corporation. But a corporation may lack of personal Interest and have credit limitations.
Another common form of business ownership is limited liability company (LLC). A limited liability company is a type of business ownership combining several features of corporation and partnership structures. To become publicly owned, LLC often launch shares of stock onto the open market. Due to the rapid rate of world economic development, companies adopt many competition strong ways to increase their strength in order to receive more profits, for example mergers, acquisition and franchise.
These are something I have learned about forms of business ownership. I think this。